How's the Housing Market doing in Englewood, Centennial or Highlands Ranch? (Denver: mortgage broker, foreclosures)

[gldnnggts]

I'll be moving to colorado soon to work in the DTC. How is the market for a buyer in Englewood, Centennial or Highlands Ranch doing? I'm wondering how quickly homes are selling for in a $450K price range and how much below asking price people are offering out there?

[LauraKey]

Oh Buying is lovely! There are a ton of properties available! I wouldn't want to be a seller right now to be honest but if you are buying you are good to go! In all price ranges! The sooner you start looking the better, it will give you a more clear picture of the areas and what's available.

Laura Key

[Wyomiles]

Take your pick and offer low !

[mrlucero2002]

Funny, I was told by a few realtors in Colorado Springs and Thorton that Colorado had already gone through their forclosure season and that I should by now because the home prices are going to go up again. That was last April (2006). And 3 weeks ago I recieved a phone call from Ryland Homes saying that they were having a 25% off sale.

I'll be moving to the Parker area in June 08. Will be interesting to see how the home prices are then.

[LAAFTERHOURS]

I dont think prices will go up, enough to warrant a "buy now before they go up again" market. Denver isnt California, there will never be rapid growth esp in the face of a recession.

Shea homes is slashing prices, other builders are too. Too much inventory on the books. Resales are a diff story - depends on the seller.

[mrlucero2002]

Seems like there is quite a bit to chose from. I'm looking for a nice 3 or 4 bed room in a decent neighborhood. From what I can tell the asking rates for resale homes around the $300k to $350k throughout the Front Range.

Does this sound right?
Is it reasonable to bit 10% below the asking rates?

[2bindenver]

Count 175 (Searched Solds over last 6 months priced between $425,000-$475,000)
Avg Total DOM 89 (balanced market)

Original List Current List Sold Net Sold
Average Price 469,081 459,859 447,900 446,609
Median Price 469,000 459,000 447,000 445,000

Avg Price/SqFt 183.98 180.82 175.93 175.47
Avg Price/Fin SqFt 149.43 142.79 142.79 142.42
Avg Price/Acre 2,246,653 2,212,879 2,160,017 2,153,019

% of List 97.40 97.12
% of Orig 95.48 95.21

Mode Price 450,000 425,000 425,000

[thaddeusq]

There were 91 sales in the last 6 months between $350k-$465K in the areas you mention. The average sold to list price was 95% and I know 4 months on the market is what to expect when listed at a fair price.

The total number of homes listed today are 80, which is very common for the month of Jan. There are no specifics on this search other than the City name.

The best way to start is to develop your needs & whish list and send an agent out to preview. They will be able to send you specs. and pictures of homes that have 80% of your list. This will prepare you best before you make your trip out to Denver.

The Denver Metro area was one of the first to begin in Notice of Elections and Demands (foreclosures), so we expect to be the first one out. We see now Nevada, Claifornia and Arizona taking the lead.

[thaddeusq]

The idea was correct the timing was off.

The best way to start is to develop your needs & whish list and send an agent out to preview. They will be able to send you specs. and pictures of homes that have 80% of your list. This will prepare you best before you make your trip out to Denver.

The Denver Metro area was one of the first to begin in Notice of Elections and Demands (foreclosures), so we expect to be the first one out. We see now Nevada, Claifornia and Arizona taking the lead.

[livecontent]

Originally Posted by mrlucero2002

Funny, I was told by a few realtors in Colorado Springs and Thorton that Colorado had already gone through their forclosure season and that I should by now because the home prices are going to go up again. That was last April (2006). And 3 weeks ago I recieved a phone call from Ryland Homes saying that they were having a 25% off sale.

I'll be moving to the Parker area in June 08. Will be interesting to see how the home prices are then.

This is to me very funny. Realtors tell you "now to buy". What else are they going to say---not to buy of course they want you to buy--that is how they make their money.

Ask a car salesman; should I buy a car now??? He will always tell you that "now it the best time".

Ask a stockbroker the same thing?? He is going to tell you the same---the market is now a good time to buy--that is how he makes his money. Of course he also makes money when you sell: He will do anything to make a commission on a trade.D

Does a mutual fund tell you this is not the time to buy??? Did you ever hear that????

Ask a mortgage broker; when is a good time to get a mortgage--of course he is going to tell you now.

Ask a travel agent if this is a good time to travel?? Yea, he is going to tell you no???

Ask anybody with interest in the sales, anytime, what is the best time, and they will tell you now.

Realtors have a vested interest in keeping the trade in homes going and in inflating the value of the properties. "Mr. Brown, I do not think you should purchase a house now, I really do not want to earn any money this month."

Ask the government should we save, or should we spend and spend and spend and spend--got to keep that economy going.

Ask the preachers, pastors and priests; should we live life now or should we wait? They will at least give you an answer to wait--because they have a vested interest in getting your money now, to give you a that dubious hereafter.

And do not forget to ask the funeral director--When is the best time to die??
Should I die now, or wait?

Livecontent